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Bradley County/Cleveland/37312

37312

ZIPSAFMR
Bradley County, TN
Zillow

ZIP Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$960$1,060
1 BR$1,050$1,160
2 BR$1,380$1,460
3 BR$1,730$1,800
4 BR$1,810$1,990
5 BR$2,082Not available
6 BR$2,394Not available
7 BR$2,753Not available
8 BR$3,166Not available

Purchase Price Calculator

Maximum purchase price
$155,039

Cost breakdown

+Likely effective rent$1,460
HUD FMR$1,380
Market rent$1,510
Est. payment standard (106%)Used$1,460
-Principal and interest-$784
Loan amount$124,031
Down payment$31,008
Rate6.50%
Term30 years
-Operating costs-$476
Property taxes-$155
Insurance-$175
Utilities$0
HOA$0
Management-$146
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,565(76.0% ROI)
Projected value
$166,960
Return breakdown
Property appreciation+$11,921
Loan principal paid down+$4,444
Rental cash flow+$7,200
5-year hold
+$40,298(130.0% ROI)
Projected value
$175,412
Return breakdown
Property appreciation+$20,373
Loan principal paid down+$7,924
Rental cash flow+$12,000
10-year hold
+$86,306(278.3% ROI)
Projected value
$198,463
Return breakdown
Property appreciation+$43,424
Loan principal paid down+$18,882
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.82
1 BR
0.83
2 BR
0.91
3 BR
0.94
4 BR
0.79
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 37312 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37312 (Cleveland, TN) is $1,380 a month. That is down 2.8% from $1,420 in FY 2026. Cleveland is in the Cleveland, TN MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,270. Among 9 ZIP codes in Bradley County, 37312 has the highest two-bedroom rent (county range $1,110–$1,380). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37312 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37312
BedroomsFY 2027Change90–110% range
Studio$960−2.0%$864–$1,056
1BR$1,050−2.8%$945–$1,155
2BR$1,380−2.8%$1,242–$1,518
3BR$1,730−4.9%$1,557–$1,903
4BR$1,810−3.7%$1,629–$1,991

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37312
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$960$1,050$1,380$1,730$1,810
FY 2026$980$1,080$1,420$1,820$1,880
FY 2025$950$1,050$1,380$1,800$1,830
FY 2024$860$920$1,210$1,590$1,660
FY 2023$720$770$1,020$1,340$1,450

Two-bedroom rent in nearby Bradley County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37312
37310$1,150−16.7%
37311$1,230−10.9%
37312Current$1,380—
37320$1,300−5.8%
37323$1,230−10.9%
37336$1,210−12.3%
37353$1,300−5.8%
37362$1,110−19.6%
37364$1,300−5.8%

Questions about ZIP 37312 rents

How much will Section 8 pay for a two-bedroom in ZIP 37312?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,270, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,143 to $1,397 a month; under the ZIP-level Small Area FMR of $1,380 it would be $1,242 to $1,518. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 37312 in?

ZIP 37312 is in the Cleveland, TN MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,270.

How much did fair market rent change in ZIP 37312 for FY 2027?

The two-bedroom FMR fell 2.8%, from $1,420 in FY 2026 to $1,380 in FY 2027. Since FY 2023 it has risen 35.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentCleveland, TN fair market rentTN statewide rentsWhat is SAFMR?Data sources